The number of accredited landlords doubled in 2011
02 February 2012
The number of landlords who have been approved through the National Landlords Association (NLA) has more than doubled in the last year.
Through the NLA’s Accreditation Scheme, over 1,000 landlords have been approved since the launch of the programme in 2010.The accreditation scheme ensures that landlords have a thorough and comprehensive understanding of the rules and regulations of letting a residential property in the UK.
While first time buyers have been struggling to get a foothold onto the property ladder, the buy to let market has been booming as many existing homeowners turn to letting residential properties to boost their incomes.
However, it is vital that novice and part-time buy to let investors take precautions to ensure they fully understand the responsibilities of becoming a landlord. By failing to follow through with typical landlord duties they could find themselves in a bitter battle with their tenants which could, in some cases, go to court.
For example, all private landlords and letting agents who are taking deposits for assured short hold tenants (ASTs) in England and Wales are required to protect them with the Government authorised tenancy deposit protection scheme.
“I let to students and the University recognises that an accredited landlord understands what is required of them,” said landlord and NLA member, Brian Balchin.
Student accommodation let directly by universities or colleges does not need to be registered with a tenancy deposit scheme. Resident landlords who live in the property also do not need to register with a tenancy deposit scheme.
David Salusbury, Chairman of the National Landlords Association, commented;
“Landlord accreditation is a key way of raising standards. The NLA believes that accreditation for landlords should be based on a landlord’s thorough understanding of letting in the private-rented sector. The scheme gives tenants confidence that they are dealing with a professional who understands the obligations and legislation affecting the tenancy.”
